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protect the family business, continue to grow while at the same time make sure we solve this fiscal cliff. look, each and every day as we walk the halls, you continue to ask the questions. the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem, it has a spending problem. and under this administration, under president obama, we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we raise taxes to pay for more spending. this will only hurt our economy. ernst and young has done an analysis of the president's proposal and said it will cost several hundreds thousands of jobs. there is a better way and the speaker has laid it out. it is an approach that calls for tax reform by reforming the tax
protect the family business, continue to grow while at the same time make sure we solve this fiscal cliff. look, each and every day as we walk the halls, you continue to ask the questions. the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff...
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from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sand
from going over the fiscal cliff. staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's...
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Dec 6, 2012
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host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say they should be made permanent or they should be eliminated altogether. it is easier to pass when they are temporary. they keep on being extended and extended. host: we will look at some of these. these are some of the tax extenders and the cost of continuing the tax breaks through 2013. host: some of those are really specific. guest: that is the idea. they have become a case study in what some people think is wrong with the tax code. if there are loopholes that can be claimed to love god and their because of a lobbyist lobbied hard to get there, it is these tax breaks that
host: we have been focusing on different parts of the fiscal cliff discussion. today we're looking at tax extenders for businesses and individuals. joining us is sam goldfarb, a tax writer for cq roll call. what our tax extenders? guest: they are temporary tax breaks. some people are concerned the entire tax code is turning into a big tax extender. they are considered to be a small provision and targeted at specific types of businesses. host: why are they temporary? guest: a lot of people say...
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Dec 6, 2012
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in half of an hour, senate leaders comment on the fiscal cliff. after that, house speaker john boehner and minority leader nancy pelosi followed by president obama's comments. the house of representatives has finished their business for the week. they looked ahead to how negotiations on the fiscal cliff might affect the house schedule. this is half an hour. hank the gentleman. i yield to the majority leader. mr. cantor: i thank the gentleman, mr. speaker. on monday, no votes are expected in the house. on tuesday the house will meet at noon for morning hour and 2:00 p.m. for legislative business. votes will be postponed until 6:30 p.m. on wednesday the house will meet at 10:00 a.m. for morning hour and noon for legislative business. on thursday the house will meet at 9:00 a.m. for legislative business. last votes of the week are expected no later than 3:00 p.m. on thursday. members are advised that this is a change from the original house calendar. mr. speaker, the house will consider a number of bills under suspension of the rules, a complete list
in half of an hour, senate leaders comment on the fiscal cliff. after that, house speaker john boehner and minority leader nancy pelosi followed by president obama's comments. the house of representatives has finished their business for the week. they looked ahead to how negotiations on the fiscal cliff might affect the house schedule. this is half an hour. hank the gentleman. i yield to the majority leader. mr. cantor: i thank the gentleman, mr. speaker. on monday, no votes are expected in the...
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to the fiscal cliff. but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> we
to the fiscal cliff. but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we...
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this morning part of our week-long and couple of weeks' long conversation on the fiscal cliff, a focus this morning on the expiring tax provisions. host: today we're looking at the issue of tax extenders or tax incentives for business and individuals. and joining us in this discussion is sam goldfarb, who is a tax writer for c.q. roll call. what are tax extenders? >> well, they're temporary tax breaks. that's basically i think the most basic definition and some people are kind of concerned that the entire tax code is turning into one big tax extendser. so where do you really define it? but i think traditionally they're considered to be these pretty small provisions, narrowly targeted at specific types of businesses. some of them do apply to individuals as well. >> so why are they temporary? >> that's a good question. i think a lot of people, including people in congress, say either they should be made permanent or they should be eliminated altogether. but they're temporary because it's easier to pass that way. it looks like it costs less. usually they keep on being ex tended and extend
this morning part of our week-long and couple of weeks' long conversation on the fiscal cliff, a focus this morning on the expiring tax provisions. host: today we're looking at the issue of tax extenders or tax incentives for business and individuals. and joining us in this discussion is sam goldfarb, who is a tax writer for c.q. roll call. what are tax extenders? >> well, they're temporary tax breaks. that's basically i think the most basic definition and some people are kind of...
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. >> jennifer: president obama took his fiscal cliff avoidance campaign to corporate executives today. those top leaders may be small in number but they're actually very extra large in influence and during his address the president's address to the business roundtable which is a bunch of ceos of the biggest corporations president obama had this message for republicans who were plotting to gain leverage over the fiscal cliff discussions by folding the debt ceiling into fiscal cliff talks. take a listen. >> obama: congress, in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation which by the way we have never done in our history until we did it last year i will not play that game. >> jennifer: fortunately for us "newsweek" "daily beast" special correspondent michael tomasky is always up for playing political games himself. he's joining us from washington d.c. thanks for coming back inside "the war room." >> it is always my pleasure, governor. >> jennifer: always a pleasure to have you
. >> jennifer: president obama took his fiscal cliff avoidance campaign to corporate executives today. those top leaders may be small in number but they're actually very extra large in influence and during his address the president's address to the business roundtable which is a bunch of ceos of the biggest corporations president obama had this message for republicans who were plotting to gain leverage over the fiscal cliff discussions by folding the debt ceiling into fiscal cliff talks....
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Dec 6, 2012
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we are willing to go over the fiscal cliff. why? to square the members to call their members of congress. if you talk to business people and people in the banking industry they are not concerned about the fiscal cliff and i am not sure why. maybe they feel it is going to get done. this is very, very interesting. >> steve: i think there are people who are optmistic that something can happen in the long run. >> brian: we get past this hurdle and we might get on a roll. >> steve: john boehner said the republicans point of view. we don't have to raise rates on the top people. we can tighten things up and close the loop holes and deduction. actually that the president of the united states's point of view back last year . now he said it is all about tax rates. this is the president in a flash back. >> what we said give us 1.2 trillion in additional revenues which could be accomplished without hiking tax rates, but could simply be questioned by eliminating loop holes and deductions and engaging in a tax reform process that could have lower
we are willing to go over the fiscal cliff. why? to square the members to call their members of congress. if you talk to business people and people in the banking industry they are not concerned about the fiscal cliff and i am not sure why. maybe they feel it is going to get done. this is very, very interesting. >> steve: i think there are people who are optmistic that something can happen in the long run. >> brian: we get past this hurdle and we might get on a roll. >> steve:...
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today's discussion on the fiscal cliff clearly meets that. we are honored to have such a thoughtful panel. senator mark warner, senator bob corker, congressman chris van hollen, governor tim pawlenty, who is currently president and ceo of the financial services roundtable. moderating our discussion today is al hunt. we always love having al over here. he really put bloomberg on the map here in d.c.. yesterday it was his birthday -- happy birthday, al. [applause] i'm going to turn things over to congressman tom davis -- this is a man who really needs no introduction here in washington but has been a great friend to bgov over the years. i would be remiss if i did not give his full official title -- he is the director of federal government affairs at deloitte. please join me in welcoming congressman tom davis. [applause] >> thank you. and most importantly, i left congress undefeated and unindicted. on behalf of deloitte, i want to thank our all-star panel. senator corker, governor pawlenty, congressman van hollen, senator warner, for participati
today's discussion on the fiscal cliff clearly meets that. we are honored to have such a thoughtful panel. senator mark warner, senator bob corker, congressman chris van hollen, governor tim pawlenty, who is currently president and ceo of the financial services roundtable. moderating our discussion today is al hunt. we always love having al over here. he really put bloomberg on the map here in d.c.. yesterday it was his birthday -- happy birthday, al. [applause] i'm going to turn things over to...
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while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong bipartisan support. in august, the finance committee approved it by a large margin. we have support from six republicans, including the ranking member, senator hatch. all 13 democrats supported it. i believe that many more republicans will vote for this legislation if it's brought up for consideration here in the senate. the bill consists entirely of tax cuts. it should not be difficult to get senators to vote for tax cuts, right before christmas especially. most of these tax cuts have solid bipartisan support. many of these tax cuts will help the economy, will help the middle class. for example, the
while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong...
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. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never been as connected in the domino effect of a bad outcome here will have significant negative consequences domestically and around the world. >> negative consequences, seismic or not, none is stopping starbucks plans for 1,500 more cafes across america next year. and just as many around the world. but we get his point. >>> speaking of the fiscal cliff, we know what the parameters of a deal in congress will look like, right? on taxes, republicans give in to raise taxes on the wealthiest 2% and democrats will agree to rein in tax breaks, right? democrats are fighting hard to preserve the tax deduction for st
. >>> americans could be singing the blues if congress doesn't act to avert the fiscal cliff. the longer congress waits the more complicated for businesses to figure out how much to pay workers early next year. the confusion could cost employers money, especially small businesses which use payroll software which takes time away from running their business. starbucks ceo howard schultz agrees. >> this single issue has a seismic affect on the rest of the world that we have never...
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the fiscal cliff is the maximum of what ghkts want. you've got howard dean saying we need to raise taxes on everybody, not just the rich. steny hoyer says the same thing. i think republicans have a better handle on the other side, but it's the democrats in transition on the mechanism. >> more on this story coming up. erick, donna, david, guys thank you. authorities trying to catch up with technology. in this case it's all about text messages and finding a way to use them against criminals. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 tha
the fiscal cliff is the maximum of what ghkts want. you've got howard dean saying we need to raise taxes on everybody, not just the rich. steny hoyer says the same thing. i think republicans have a better handle on the other side, but it's the democrats in transition on the mechanism. >> more on this story coming up. erick, donna, david, guys thank you. authorities trying to catch up with technology. in this case it's all about text messages and finding a way to use them against...
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she wrote concerned about tax increases and this fiscal cliff. she said, "the middle class is the heart and soul of this country. what keeps it going and growing? what else can we be hit with? i know i cannot take anything more on financially." so my first call today, madam president, is let's give deborah and families like hers in delaware and around the country the serntle before we end this -- the certainty before we end this calendar year of knowing their taxes will not go up in 26 days when the calendar turns to 201. one way to do that is for the moushouse to take up the legisln that this body has already considered in a bipartisan way that would extend the tax cuts for 98% of families and 97% of small businesses while also achieving nearly d is trillion of debt and deficit reduction. this bill extends tax cuts that would otherwise expire for all americans who earn income and for all small businesses, but just on the first $250,000. tax ratetax rates on income abot would revert to tax rates during the clinton administration. this one step wo
she wrote concerned about tax increases and this fiscal cliff. she said, "the middle class is the heart and soul of this country. what keeps it going and growing? what else can we be hit with? i know i cannot take anything more on financially." so my first call today, madam president, is let's give deborah and families like hers in delaware and around the country the serntle before we end this -- the certainty before we end this calendar year of knowing their taxes will not go up in...